Overview
- The plan was issued by the Ministry of Industry and Information Technology together with five other central government departments.
- It sets a goal to identify 10 consumption hotspots, each to reach 100 billion yuan in market size.
- Priority markets include products for the elderly and consumer electronics, with hotspots such as fitness equipment, pet food and supplies, civilian drones and trendy toys.
- Vice-Minister Xie Yuansheng outlined the targeted areas at a Beijing news conference, citing strong momentum and development potential.
- The initiative builds on prior consumption-promotion measures, including a September aim for a 7 trillion yuan sports industry by 2030.